Market news
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GBP/USD Rises to Near 1.3350 as Weak US Jobs Data Pressures Dollar
The British Pound strengthened to near 1.3350 against the US Dollar after a weaker-than-expected US Nonfarm Payrolls report weighed on the greenback.
Euro Drops to 1.1420 as Softer Inflation Dents ECB Rate Hike Expectations
EUR/USD fell to around 1.1420 during Asian trading on Thursday, pressured by a weaker Eurozone inflation outlook that reduces expectations for ECB rate hikes, even as the US dollar strengthens despite disappointing US labor data.
Pepperstone Hires XTB Veteran Reed Sayer To Lead UK Growth Strategy
Pepperstone hires Reed Sayer, a 10-year XTB veteran, to lead its UK growth strategy and strengthen client relationships in a competitive retail trading market.
USD/CNH Consolidation Expected After Weakness Fades – UOB
UOB analyst Quek Ser Leang reports that USD/CNH is consolidating after a decline to 6.7865, with the pair trading between 6.7911 and 6.8025 and closing at 6.7948. Intraday action is expected to remain within a narrow range.
Iran Warns of ‘Decisive Response’ to Any US ‘Miscalculation’ in Strait of Hormuz
Iran's joint military command has warned that any US interference in the Strait of Hormuz will be met with a decisive and swift response, as tensions continue to affect negotiations, according to Aljazeera.
AUD/USD Spikes on Soft US Payrolls, Reverses Gains
AUD/USD briefly surged toward 0.6950 after weak US payrolls data, but pared most gains to close lower, remaining a passenger in dollar-driven moves.
Gold Gains Momentum Above $4,100 After Weak US NFP Data
Gold price climbed to around $4,125 during early Asian trading on Friday, extending its rally after weaker-than-expected US Nonfarm Payrolls data dampened expectations of further Fed rate hikes.
USD/KRW Breaks Above 1,550 as Won Weakens Despite Export Strength – Societe Generale
Societe Generale reports that the South Korean Won remains under selling pressure, with USD/KRW clearing the 1,550 psychological level. The currency’s weakness persists even as export growth and the trade surplus remain strong.
CNY Strength Weakens Undervaluation Claims, BNY Says
BNY's Geoff Yu argues that the recent strength of the Chinese yuan (CNY) has strategic value, undermining arguments by the US and EU that the currency is undervalued. He notes that CNY gains against regional peers and major currencies support China's semiconductor import strategy.
Mexican Peso Rises on Soft US Jobs Data, Intervention Speculation
The Mexican Peso strengthened after a weaker-than-expected US jobs report pressured the dollar, with additional support from rumors of Japanese FX intervention.
Thai Baht's External Cushion Less Generous – UOB
UOB notes Thailand's external buffers remain credible but current-account dynamics have turned less favorable, with April-May deficits due to strong imports of energy and capital goods alongside resilient exports.
New Zealand Dollar rises as softer US jobs data weighs on US Dollar
The NZD/USD pair advanced toward 0.5700 on Thursday as the US Dollar weakened following softer-than-expected US employment data.
Pound Sterling Bounces Off Support, Recovers Toward Moving Averages
GBP/USD rebounded from a long-term support line near seven-month lows, climbing back toward a cluster of moving averages.
Japanese Yen Bounces as Tokyo Stops Telegraphing Its Punches
The yen rebounded from four-decade lows, driven by a soft US jobs report and renewed intervention fears, not by Bank of Japan action. USD/JPY is heading for its first weekly loss in eight weeks.
BNY Warns South Korean Won Faces Semiconductor-Led Risks
BNY highlights heavy selling of South Korean semiconductor stocks and warns, citing an OECD survey, that Korea's reliance on chip exports amplifies vulnerability to global tech-cycle shifts, posing downside risks to the won.
China PMI Shows Resilience, Trade Risks Grow – Commerzbank
Commerzbank analysts report that China's private manufacturing PMI eased to 51.7 but still achieved the strongest quarter in nearly six years, while official PMIs also exceeded expectations. However, trade risks are increasing.
Prop Trading Guide: Risks and Rules for Trading with Firm Capital
A new article explains how prop trading accounts work, the risks involved, and how to choose a firm that fits your strategy.
USD/SGD Range Bias Continues Near Recent Lows – UOB
UOB analyst Quek Ser Leang notes USD/SGD closed at 1.2960 after a volatile session, with the pair expected to trade within a narrow 1.2935–1.2975 range in the coming day.
USD/CHF Bearish as Shooting Star Forms; Eyes 0.8000
USD/CHF retreated from a two-day high of 0.8120 after weak US data, forming a shooting star pattern. The pair now targets the 0.8000 support level as the dollar weakens.
US Dollar Weakens After Soft June Jobs Data
The US Dollar Index fell near 100.90 after June Nonfarm Payrolls increased by only 57,000 and May's gain was revised down to 129,000, indicating a slowdown in hiring.
AUD/USD Bearish Bias Persists Below 0.7000 After Weak US NFP
The Australian Dollar edged higher on Thursday as a softer-than-expected US Nonfarm Payrolls report reduced the odds of an imminent Federal Reserve rate hike, but the pair remains under pressure below the 0.7000 level.
US Dollar Index Retreats After Weak June Jobs Data
The US Dollar Index fell on Thursday after the economy added only 57,000 jobs in June, disappointing market expectations and reducing bets on a near-term Fed rate hike.
AUD/USD Consolidation Likely Below 0.7000
The Australian dollar is expected to remain in a consolidative phase beneath the 0.7000 level, though the constructive outlook holds above the 200-day moving average.
BNY: Sharp Rebound Possible for Asian FX on US Pressure
BNY Mellon's Geoff Yu notes that clients have largely given up on Japanese yen and South Korean won longs, but sees potential for a sharp rebound driven by US pressure.